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☆ International Elections 2024: What You Need to Know
▼ + stars: | 2024-03-21 | by ( The New York Times | ) www.nytimes.com time to read: +4 min

International Elections 2024: What You Need to KnowRussia U.K. United States E.U. Mexico India Indonesia 900M South Africa 90M Voting-age population Russia U.K. United States E.U. Mexico India Indonesia 900M 90M South Africa Voting-age population Russia U.K. United States E.U. Upcoming Elections India Prime Minister Narendra Modi, a divisive figure who has aggravated the religious and ethnic fault lines in the hugely diverse country, is seeking a third term. United States A rematch between President Biden and former President Donald J. Trump adds another layer of uncertainty to the global political landscape.

Persons: Narendra Modi, Mahamat Idriss Déby Itno, Paul Kagame, Biden, Donald J, Trump Organizations: United, Africa, Russia U.K, India, National Congress, European, Party, Lithuanian Christian Democrats, Conservative Party, Labour Party Locations: Russia, United States, Mexico India Indonesia, Mexico, India, South Africa, Venezuela, Sudan, Panama, Chad, Europe, Rwanda, Austria, Lithuania, Sri Lanka

☆ Genco CEO discusses conditions in the Panama Canal and the Black Sea
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGenco CEO discusses conditions in the Panama Canal and the Black SeaGenco Shipping CEO John Wobensmith outlines how climate events and geopolitical headwinds, such as the restriction of the Panama Canal and reduced grain exports from Ukraine, are affecting the shipping industry.

Persons: John Wobensmith Organizations: Genco Shipping Locations: Panama, Ukraine

☆ CEO of Hapag-Lloyd, one of world's top ocean shippers, says the outlook has changed for global economy, trade demand
▼ + stars: | 2024-03-15 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

We saw them coming up a bit towards the end of the quarter, and then of course, the Red Sea crisis ... which again changed the market." Rolf Habben Jansen, CEO of Hapag-Lloyd, the world's fifth-largest ocean carrier, tells CNBC he has an improved view on trade for the rest of 2024. "It's a concerning situation and I think the [Red Sea] outlook is very difficult," Jansen said. In addition to the added costs, according to Sea-Intelligence, the Red Sea diversions could increase carbon dioxide emissions by 260%–354%. New ocean alliance with MaerskThe reduction in global freight and schedule reliability are headwinds ocean carriers have been facing for months.

Persons: Lloyd, Jansen, Rolf Habben Jansen, Hapag Lloyd, Hansen, it's, Lars Østergaard Nielsen, Nielsen, " Hansen Organizations: CNBC, Intelligence, EU, Trading, Maersk, Hapag, Gemini, Sea, MSC Locations: U.S, Asia, West Coast, East Coast, Gulf Coast, Red, Aden, Yemen, Africa, Europe, Suez, Panama, California

☆ 34-year-old mom dropped $50,000 to cruise the world with her family: 'It was some of the best money I ever spent'
▼ + stars: | 2024-03-08 | by ( Michelle Schroeder-Gardner | ) www.cnbc.com time to read: +5 min

Last year, I paid $50,000 to go on a four-month cruise that took my family and me to 30 countries. I see the money spent as an investment — not just in travel, but in a collection of memories that we will treasure forever. "Our room for four months months on the cruise, with our balcony view." Photo: Michelle Schroeder-GardnerI bonded with my family in a unique wayAfter our daughter was born, the idea of a world cruise piqued our interest. For example, when we lived on our sailboat, we spent six months in the Bahamas every year.

Persons: Michelle Schroeder, Gardner, Sultan, We're Organizations: Santa Cruz de La Locations: Cartagena , Colombia, Florida, Moorea, French Polynesia, Panama, Polynesia, New Zealand, Asia, Bahamas, Sultan Qaboos, Oman, Australia, Thailand, Turkey, Montenegro, Spain, Mexico, Canary, Santa Cruz de, Santa Cruz de La Palma

☆ The Panama Canal Redrew the World’s Map. A Novel Explores the Lives It Changed.
▼ + stars: | 2024-03-05 | by ( Celia Mcgee | ) www.nytimes.com time to read: +1 min

As far back as Cristina Henríquez can remember, there has always been the Panama Canal. She visited it every summer on family trips. The questions, however, didn’t occur to her until she was older: Whose lives, and deaths, lay behind a project so massive it redefined countries and redrew the world’s map? “I grew up going to the canal, but I didn’t know what I was seeing,” Henríquez said. And, “Free lodging and medical care.” “Work in paradise!”

Persons: Cristina Henríquez, Teddy Roosevelt’s, ” Henríquez, “, ” Locations: Panama

☆ What the SEC climate disclosure rule may mean for investors
▼ + stars: | 2024-03-04 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Climate disclosures would be made in annual filings companies make to the SEC, such as a Form 10-K, and in registration statements filed before an initial public offering. "I think climate disclosures have largely become table stakes for the investment community," said Lindsey Stewart, director of investment stewardship research at Morningstar. Current climate disclosures are 'uncommon'Ships on the Panama Canal on August 21, 2023. Shipping experts fear such events could become the new normal as rainfall shortfalls highlight climate risks. The SEC proposal outlined three tiers of emissions disclosures: Scopes 1, 2 and 3.

Persons: Gary Gensler, Win Mcnamee, —, Lindsey Stewart, Daniel Gonzalez, Stewart, They'd, Rachel Curley, Hurricane Idalia, Christian Monterrosa, Cowen, Patrick McHenry, Sen, Tim Scott, Bill Huizenga, Chris Ratcliffe, They're Organizations: Securities, Exchange, Financial Services, General, Getty, The Securities, Exchange Commission, SEC, Morningstar, Panama Canal Authority, Shipping, Anadolu Agency, P Global, Corporations, U.S . Sustainable Investment, Hurricane, Bloomberg, Republicans, Economic, Deloitte Locations: Washington, Panama, U.S, Cedar Key , Florida, R

☆ There's been a rebound in volatile shipping stocks. The market opportunity isn't over, report says
▼ + stars: | 2024-03-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

During 2022-2023, ocean carriers used some of those reserves for their own buying sprees to expand their footprints. While adding to the ocean carrier bunker fuel costs, they are being compensated.. "The Red Sea diversions are a good thing for ocean carriers. The big question mark is the duration of the diversions and the surcharges the ocean carriers can charge. Those two regions have steadily taken market share away from the West Coast ports, with shippers also benefitting from investments in ports infrastructure. "The West Coast ports have strengthened infrastructure," Iampieri said.

Persons: Marc Iampieri, Cash, Iampieri, Jeff Bezos, It's, Paul Brashier, Brashier, AlixPartners Organizations: Bloomberg, Getty, Dow Jones Transportation, Fortune, Convoy, Amazon, Technology, Ocean, Maersk, CNBC, ITS Logistics Locations: Panama, Red, East Coast, AlixPartners, Flexport, Europe, North America, Asia, West Coast, East, Gulf, Mexico, West, Los Angeles, Long

☆ ‘Scandals and secrets’: On board the world’s most exclusive private residential ship
▼ + stars: | 2024-02-24 | by ( Francesca Street | ) edition.cnn.com time to read: +15 min

Welcome to The World, an exclusive private residential ship home to 165 superluxe apartments. Antonucci’s children were in their early 20s during his stint as a World resident, but they came and visited their parents on board from time to time. Unlike on an ordinary cruise ship, residents are able to make renovations and decorate according to personal tastes. Peter AntonucciFor many residents, the social life on board The World is also a big part of the appeal. The World’s owners also chose not to respond to Antonucci’s account of life on board.

Persons: CNN —, – you’ve, “ I’m, Peter Antonucci, you’ve, Antonucci, he’d, ”, he's, Peter Antonucci Antonucci, “, Antonucci didn’t, they’d, Antonucci can’t, ” Antonucci, –, aren’t, “ They’re, I’ve, ’ Antonucci, There’s, carousing ”, wasn’t, I’d, ‘, Antonucci “, he’s Organizations: CNN, HBO, CNN Travel, “, Street, Wimbledon, ” Locations: Antonucci, Belize, Panama, New York, Europe, Maldives, Seychelles, Australia, New Zealand, London, Rio de Janeiro, Florida, Solomon Islands, South Africa

☆ Shipping giant Maersk says Red Sea vessel diversions could extend into second half of 2024
▼ + stars: | 2024-02-14 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Moller-Maersk, the second-largest global ocean carrier, is advising customers to prepare for a Red Sea crisis that could stretch well into the second half of this year. "Unfortunately, we don't see any change in the Red Sea happening anytime soon," Charles van der Steene, regional president for Maersk North America, tells CNBC. After attacks on two U.S.-flagged Maersk vessels on January 24, the Maersk Detroit and Maersk Chesapeake, Maersk Line, Limited — a U.S. subsidiary of Maersk, which operates U.S.-flagged vessels independently — announced it would no longer traverse the Red Sea. The global shipping and logistics company's cautious view of the Red Sea safety conditions comes despite a U.S.-led multinational military operation in the region, Operation Prosperity Guardian. "Our advice to our customers is specifically about building upon the uncertainty by being agile," said van der Steene.

Persons: Ebba, A.P ., Kristian Helgesen, Moller, Charles van der, Good Hope, der Steene, Maersk, van der, van der Steene, van der Steen, Panama hasn't, we're Organizations: A.P, A.P . Moeller, Maersk, Bloomberg, Getty, Maersk North, CNBC, Maersk Detroit, Maersk Chesapeake, Prosperity, U.S, Gaza, Maritime Security Program, VISA, Voluntary Intermodal, U.S ., Intelligence, East, Oceania Locations: Suez, Egypt, Maersk North America, Gulf, Aden, Hangzhou, Maersk, U.S, Good, Asia, Limited's U.S, West Coast, East Coast ., East Coast, Cape Hope, Panama, Ports, Mexico, Pacific Northwest, Los Angeles, Long, China, Australia, New Zealand

☆ U.S. Gas Producers Are Racing to Sell to Asia. And Mexico Is Key.
▼ + stars: | 2024-02-13 | by ( Max Bearak | ) www.nytimes.com time to read: +1 min

As soon as next year, the United States’ fossil fuel industry will gain its first foothold on a valuable shortcut to sell natural gas to Asia. The shortcut goes straight through Mexico. The terminal is symbolic of an enormous shift underway in the gas trade, one that will influence fossil-fuel use worldwide for decades and have consequences in the fight against climate change. The American fracking boom has transformed the United States into the world’s largest gas producer and exporter. Demand is particularly growing in China, India and fast-industrializing Southeast Asian countries.

Locations: United States, Asia, Mexico, Coast, Panama, American, China, India

☆ ‘Like going to the moon’: The world’s most terrifying ocean crossing
▼ + stars: | 2024-02-04 | by ( Julia Buckley | ) edition.cnn.com time to read: +19 min

And it’s not just the winds making the waters rough – the Drake is basically one big surge of water. We’re not gambling.”Even with that extra safety margin, though, he admits that crossing the Drake can be a hairy experience. A dangerous thrillAurora Expeditions' Greg Mortimer ship has a patented bow to make a Drake crossing more stable. “The only thing that works for me is going to the ship’s medic for a scopolamine patch,” he says. “If you were going to the moon, you’d expect the journey to be uncomfortable but it’d be worth it,” she says.

Persons: CNN —, ” Alfred Lansing, Ernest Shackleton’s, Drake, ”, it’s, Mike Hill, Adam ”, Alexander Brearley, –, ” “, Storm Isha, Brearley, That’s, It’s, Clelia, Fiona Stewart, Garett McIntosh, Horn, “, Stanislas Devorsine, Sue Flood, Le Commandant Charcot, ” Devorsine, Devorsine, “ We’re, Jamie Lafferty, “ Drake, Greg Mortimer, Tyson Mayr, He’s, Mundy, Edwina Lonsdale, ” Lonsdale, Sylvia Earle, Lonsdale, DreamPictures, acupressure, ” Jamie Lafferty, I’ve, ” Warren Cairns, There’s Organizations: CNN, British Antarctic Survey, Atlantic, “, AP, South America –, Aurora Expeditions, Institute of Polar Sciences, National Research Council of Locations: Antarctica, isn’t, South America, Ireland, Panama, Europe, South, California, New York, Cape Horn, South Africa, Australia, New Zealand, –, France, Cape, National Research Council of Italy, it’s, Lonsdale

☆ Self-navigating ships could change the shipping industry. Here are the companies poised to benefit
▼ + stars: | 2024-02-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

Worldwide, the autonomous ships market reached $4.13 billion in 2022, and is forecasted to grow to $10.1 billion in 2032, according to Emergen Research . Avikus said this journey marked the first time autonomous navigation successfully enabled a large vessel to complete a trip over 10,000 kilometers. HiNAS 2.0 deployed a level-three autonomous navigation system, meaning that human intervention is only deployed in an emergency situation. The success of the HiNAS 2.0 and Prism Courage journey marked a foray into greater commercialization and implementation of autonomous ship navigation technology. The company is aiming for its fully autonomous ship technology to reach full-scale commercialization by 2025.

Persons: Patrick Ryan, Covid, Courage, Avikus, Carol Schleif, Rudy Negenborn, — Ryan, Ryan, BMO's, Morgan Stanley, Ravi Shanker, Shanker, Hunt, C.H, Robinson, Negenborn Organizations: Research, American Bureau of Shipping, Hyundai, Yara International ASA, Yara, BMO Family, Delft University of Technology, Moeller, Maersk, Yara International, Mitsui, Mitsui O.S.K, Royce, Shipbuilders, Expeditors International Locations: Covid, Avikus, Freeport, of Mexico, Panama, Korea, Red, Suez, U.S, Danish, American, ADRs, Japan

☆ 120 passengers on Cunard Cruise got sick with diarrhea and vomiting from an unknown cause
▼ + stars: | 2024-02-01 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +2 min

Read previewMore than 100 passengers and some staff members sailing on Cunard Cruise Line's Queen Victoria ship fell ill from an unknown cause this month, according to the Centers for Disease Control and Prevention. The cruise ship was in Guatemala as of Tuesday, according to the itinerary, and is set to arrive in Honolulu around February 12. Cunard did not immediately respond to Business a request for comment from Business Insider. The agency said 100 people, including passengers and crew, got sick, with the main symptoms being vomiting and diarrhea. In January 2023, Cunard's Queen Victoria received a high sanitation score, 95 out of 100.

Persons: —, Cunard Cruise, Victoria, CruiseMapper, Queen Victoria, Cunard Organizations: Service, Cunard, Centers for Disease Control, CDC, Business, Cunard Cruise, Fox Business, Celebrity Cruises Locations: Fort Lauderdale , Florida, Aruba, Panama, Guatemala, Honolulu

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was “impacting everyone and something we’re very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was “only mildly impacted by the transit challenges in the Red Sea."

Persons: What’s, Ryan Petersen, Petersen, It’s, Clifton Broumand, Broumand, —, ”, “, it’s, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, it's, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti, ____ Anderson, Kelvin Chan, Anne D'Innocenzio, Yuri Kageyama, Tom Krisher, David McHugh Organizations: WASHINGTON, —, Hamas, Machine, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer, Free People, AP Business Locations: Belgium, Germany, British, Maryland, Asia, Ukraine, Yemen, Gaza, Europe, United States, Suez, Africa, “, Panama, Greater Landover , Maryland, Taiwan, China, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India, New York, London, Tokyo, Detroit, Frankfurt

☆ Attacks on ships in the Red Sea are disrupting global trade. Here’s how it could affect what you buy
▼ + stars: | 2024-01-28 | by ( ) www.cnbc.com time to read: +8 min

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was "impacting everyone and something we're very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was "only mildly impacted by the transit challenges in the Red Sea."

Persons: It's, Petersen, Ryan Petersen, Clifton Broumand, Broumand, it's, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti Organizations: Galaxy, Houthis Media, Getty, Machine, Hamas, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer Urban Outfitters, Free People Locations: Iran, Yemen, Anadolu, Greater Landover , Maryland, Taiwan, China, Gaza, Panama, Asia, Europe, United States, Suez, Africa, Ukraine, Belgium, Germany, British, Maryland, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India

☆ Panama Canal Drought Slows Cargo Traffic
▼ + stars: | 2024-01-26 | by ( Mira Rojanasakul | ) www.nytimes.com time to read: +8 min

PANAMA CANAL Colón Atlantic Ocean Lake Alajuela Gatún Lake Panama City PANAMA Ship traffic Pacific Ocean PANAMA CANAL Colón Lake Alajuela Atlantic Ocean Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic PANAMA CANAL Colón Lake Alajuela Atlantic Ocean Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic PANAMA CANAL Atlantic Ocean Colón Lake Alajuela Gatún Lake Panama City PANAMA Ship traffic Pacific Ocean PANAMA CANAL Atlantic Ocean Colón Lake Alajuela Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic PANAMA CANAL Atlantic Ocean Colón Lake Alajuela Gatún Lake Panama City PANAMA Pacific Ocean Ship traffic Source: MariTrace Ship movements from Jan. 19 to Jan. 21, 2024. Panama Canal Drought Slows Cargo TrafficThe lake that allows the Panama Canal to function recorded the lowest water level ever for the start of a dry season this year, which means that vastly fewer ships can pass through the canal. The Panama Canal Authority has reduced daily traffic through the narrow corridor by nearly 40 percent compared with last year. “The fact that the Panama Canal operates on freshwater is a major disadvantage compared to other water routes,” said Ricaurte Vásquez Morales, the administrator of the Panama Canal Authority, in a video address last month. But it may not be enough to meet the pressing demand for cargo traffic through the Panama Canal.

Persons: El, Jan, ”, Ricaurte Vásquez Morales, Gatún, Joshua Tewksbury, Gloria Arrocha Paz, Arrocha Paz Organizations: PANAMA Ship, Panama Canal Authority, Maersk, Panama Canal, Smithsonian Tropical Research Institute, Demand, Times, Smithsonian Tropical Research Locations: PANAMA, Lake Panama, Panama City PANAMA, Lake Panama City PANAMA, Panama, East Coast, United States, Northeast Asia, South America, Tewksbury, Indio, Gatún, Panama City, Panama Canal Authority, What’s

UNITED NATIONS (AP) — The U.N. trade body sounded an alarm Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal. Since November, the Iranian-backed Houthis have launched at least 34 attacks on shipping through the waterways leading to the Suez Canal. Total transits through the Panama Canal in December were 36% lower than a year ago, and 62% lower than two years ago, Hoffmann said. Hoffmann said ships transporting liquified natural gas have stopped transiting the Suez Canal altogether because of fears of an attack. “Here you see the global impact of the crisis, as ships are seeking alternative routes, avoiding the Suez and the Panama Canal,” Hoffmann said.

Persons: Jan Hoffmann, Yemen’s Houthi, Hoffmann, Yemen’s, ” Hoffmann Organizations: UNITED NATIONS, United Nations Conference, Trade, UNCTAD, Suez, U.N, Ships Locations: Red, Ukraine, Panama, Suez, Asia, Europe, Iranian, Saudi, Israel, United States, Britain, Geneva, Russia, East Africa, South Asia, Southeast Asia, East Asia, Hope, Africa, Shanghai, U.S

☆ Netflix is the king of streaming. But can it last?
▼ + stars: | 2024-01-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at what to expect ahead of Netflix's big earnings report. This story is available exclusively to Business Insider subscribers. And as other streamers scramble to figure out long-term business plans, Netflix has been crowned the winner of the streaming wars thus far. Netflix is so big it even has shows from other streamers, a sign of how ubiquitous it has become. AdvertisementGet in touchinsidertoday@insider.comTo read unlimited articles, subscribe to Business Insider.

Persons: —, It's, Scott Stuber, Stuber, Insider's Lucia Moses, That'll, dealmaking, isn't, Insider's Peter Kafka, Peter, it's, James Leynse, Griffin's, Shaw, Griffin, Gary Weathers, Morgan Stanley, Tesla, Stellantis, Tommy Parker, They're, Oscar, Zazie Beetz, Jack Quaid, They'll, Tim Spector's, Dan DeFrancesco, Diamond Naga Siu, Hallam Bullock, Jordan Parker Erb, Hayley Hudson, Lisa Ryan Organizations: Service, IRS, Business, Netflix, Netflix Films, Traders, Computer Terminals, Goldman, Getty, UBS, Griffin's Citadel, LCH Investments, BlackRock, Los, Peugeot, Chrysler, Dodge, BI, Balyasny, Management, National Baseball Hall of Fame, MLB Network, Procter, Gamble, Electric, Verizon Locations: Goldman Sachs, Los Angeles, Boston, Suez, Panama, New York, San Diego, London, Edinburgh

☆ These charts show how much traffic has plunged in the Suez and Panama canals — and the potential impact on inflation
▼ + stars: | 2024-01-22 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Read previewThe number of vessels passing through the Suez Canal and Panama Canal have dropped 50% from normal levels, according to Apollo Management's top economist. AdvertisementSuez Canal slowdownAbout 12% of global trade passes through the Suez Canal, according to an estimate from the US Naval Institute. Related stories"Normally, 200 ships travel through the Suez Canal from south to north over a week, but that number has recently declined to 100," Sløk wrote. Suez Canal traffic is down 50% APThe trouble in the Suez Canal has been ratcheting up as Yemen-based Houthi rebels have been launching attacks against ships in the Red Sea, forcing some ships to take longer — and costlier — detours. And although goods inflation has been tumbling, higher shipping costs could send that back up again if they continue to follow recent trends.

Persons: —, Torsten Sløk, Sløk, Thierry Wizman Organizations: Service, Business, US Naval Institute, Apollo, Container, Shipping, Apollo Management, Macquarie Locations: Suez, Panama, Yemen, Red, Shanghai, Rotterdam, Drewry

☆ Top CEOs fear that volatile supply chains are now just the new normal
▼ + stars: | 2024-01-19 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

Kristian Helgesen | Bloomberg | Getty ImagesDAVOS, Switzerland — Top CEOs are closely following tensions in the Red Sea, warning that this kind of volatility for supply chains is likely here to stay. Houthi rebels from Yemen have attacked commercial vessels traveling in the Red Sea since November. Supply chains were massively disrupted during the pandemic and the subsequent bounce back, given the restrictions and the closure of borders. Tobias Meyer, the CEO of DHL, shared concerns over the new normal for supply chains. "We have an issue in the Panama Canal, we have an issue in the Red Sea.

Persons: Ebba, A.P ., Kristian Helgesen, Jesper Brodin, Brodin, Tobias Meyer Organizations: A.P, A.P . Moeller, Maersk, Bloomberg, Getty, Ingka, CNBC, Economic, IKEA, DHL Locations: Suez, Egypt, DAVOS, Switzerland, Red, Yemen, Iran, Gaza, United States, Hope, Africa, Asia, Europe, Davos, Panama

☆ Red Sea shipping crisis unlikely to lift inflation much, UBS says. Here's why
▼ + stars: | 2024-01-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Inflation is unlikely to rise much in the U.S. as a result of global shipping costs spiking due to militant attacks in the Red Sea, according to UBS. U.S. freight costs have soared 64% since mid-November when Houthi militants in Yemen began to target commercial vessels transiting the Red Sea, according to the bank. "The impact from shipping costs alone to inflation is likely very small," Kapteyn said. But Kapteyn said the Red Sea disruptions will have less of an effect than the supply chain disruptions that helped fuel inflation during the pandemic. The attacks in the Red Sea come as traffic is also restricted through the Panama Canal due to low water levels from a drought.

Persons: Arend Kapteyn, Kapteyn, Good Hope, Goldman Sachs Organizations: UBS, U.S, Daily, Shipping, JPMorgan, Macquarie, Wall Locations: U.S, Red, Yemen, Suez, Bab, Mandeb, Good, Africa, Panama, Iran, Macquarie, Persian, Hormuz, Strait

PANAMA CITY (AP) — A severe drought that began last year has forced authorities to slash ship crossings by 36% in the Panama Canal, one of the world's most important trade routes. The new cuts announced Wednesday by authorities in Panama are set to deal an even greater economic blow than previously expected. On Wednesday, Panama Canal Administrator Ricaurte Vásquez said they would cut daily ship crossings to 24, after already gradually slashing crossings last year from 38 a day in normal times. It was a “significant reduction” for the country, Vásquez said. “The water problem is a national problem, not just of the Canal,” Vásquez said.

Persons: Ricaurte Vásquez, Vásquez, ” Vásquez, “, ” Organizations: PANAMA CITY, Central American Locations: PANAMA, Panama

☆ This stock should benefit from Red Sea turmoil disrupting shipping, Redburn says
▼ + stars: | 2024-01-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The railroad Canadian Pacific Kansas City is poised to benefit from mounting disruptions to shipping in the Red Sea that are rerouting global trade routes, according to Redburn Atlantic. The railroad's land bridge through North America is an attractive alternative for cargo from Asia to the U.S. East Coast as the Suez and Panama canals face disruptions to traffic. Container shipping through the Red Sea was down 30% in mid-December due to repeated attacks by Iran-allied Houthi militants in Yemen, Holmes told clients. CPKC's land bridge through Mexico north to the U.S. shortens transit time by 10 to 14 days compared to the Panama Canal, Holmes wrote. "This route is materially faster (10-14 days) than going through the Panama Canal, especially when there are restrictions in place," he told clients.

Persons: Oliver Holmes, Holmes, CPKC Organizations: Canadian, Canadian Pacific Kansas City, U.S ., Ships, Kansas City Southern, CP Locations: Canadian Pacific Kansas, Lázaro, Coast, U.S . East Coast, North America, Asia, Suez, Panama, Iran, Yemen, Hope, Africa, U.S . East, Mexico, U.S

☆ War and climate change are the main obstacles to aggressive Fed rate cuts in 2024, strategists say
▼ + stars: | 2024-01-14 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

War and climate change are the main risks that could threaten aggressive Fed rate cuts, Macquarie said. That's because conflicts in the Middle East and a parched Panama Canal risk creating supply shocks that stoke inflation. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. "War and climate change are becoming the main risk to the view that the Fed cuts aggressively," analysts led by Thierry Wizman wrote in a note on Friday. Such turmoil can end up pinching consumers because the Red Sea is a major shipping artery — the Suez Canal, which connects the Red Sea to the Mediterranean Sea, carries about 12% of global trade.

Persons: Macquarie, Thierry Wizman, Wizman Organizations: Service, Federal Reserve, Fed, Drewry, . Shipping, Maersk, CMA CGA, UK, International Monetary Fund Locations: Panama, Red, Africa, Yemen, Suez

☆ Red Sea crisis could jeopardize inflation fight as shipping costs spike globally
▼ + stars: | 2024-01-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

In this article HLAG-DEMAERSK.B-DK Follow your favorite stocks CREATE FREE ACCOUNTA ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. Sayed Hassan | Getty ImagesU.S. shipping costs are spiking as attacks in the Red Sea disrupt global trade, raising fears that inflation might pick up again if the disruption persists. But the Red Sea crisis is now having a significant impact further afield with shipping costs between Asia and the U.S also spiking. Shipping rates from North Asia to the U.S. East Coast have jumped 137% to $5,100 for a 40-foot container from early October, according to S&P Global. JPMorgan told clients on Tuesday that the fight against inflation could stall in the coming months if shipping costs push the price of goods higher.

Persons: Sayed Hassan, John Kirby, Kirby, Biden, Chris Rogers, Mark Hopkins, we're, Hopkins, It's, Balika Sonthalia, Sonthalia Organizations: Getty, P Global Market Intelligence, P, U.S ., U.S . East Coast, U.S . West Coast, JPMorgan, Federal Reserve, . National Security, White, Moody's, CNBC, Kearney, The New, The New York Federal, HSBC Locations: Suez, Ismailia, Egypt, South Africa, Asia, Europe, North Asia, Israel, U.S, U.S . East, U.S . West, The New York, Panama

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